"AAIPharma's parenteral manufacturing is one of the fastest growing segments within AAIPharma's portfolio," said Patrick Walsh, chief executive officer of AAIPharma. "James brings a wealth of experience associated with the manufacturing of parenteral products and has managed a number of contract service provider relationships. His expertise will help us accelerate our plan for growth within the market."

Mr. Fife has nearly 24 years of experience in the contract manufacturing industry with a primary focus on parenteral product development and manufacturing operations. Most recently, Mr. Fife served as the director of manufacturing operations for Grand River Aseptic Manufacturing, Inc. Prior to his position with Grand River, Mr. Fife held leadership roles at Amylin Pharmaceuticals, Akorn, and Cardinal Health/Catalent Pharma Solutions.

About AAIPharma Services Corp.

AAIPharma Services Corp. is a leading provider of contract services that support all phases of drug development. The company's wide array of capabilities includes analytical chemistry, formulation development, material testing services, microbiology, clinical and commercial contract manufacturing, pharmaceutical packaging and stability services. Serving more than 600 clients around the globe and headquartered in Wilmington, N.C., AAIPharma is a portfolio company of Water Street Healthcare Partners, a strategic private equity firm focused exclusively on health care.